BWB submitted a response to the FCA’s consultation on the Guidance on the FCA’s registration function under the Co-operative and Community Benefit Societies Act 2014 (the “Guidance”).
BWB’s response focused on the part of the Guidance which sets out the FCA’s approach to defining what can and cannot be registered as a co-operative society. Prior to publication of the Guidance, the FCA stated that it will carefully scrutinise future applications for registration made by co-operative societies established on the principle of community ownership of alternative and renewable sources of energy (“energy cooperatives”). BWB believes that the approach described in the Guidance has the potential to unduly prejudice community energy projects that wish to adopt the co-operative society model.
For details of our concerns and our recommendations click here.
Posted on 19/02/2015 in BWB NewsBack to Knowledge